Shares of Tata Motors Limited traded 2 percent higher to Rs 1,046 in morning trade on May 10, extending gains for the second session in a row, ahead of its fiscal fourth quarter results set to be announced later today.
At about 9:20 am, shares of India's largest EV player were trading at Rs 1,042, higher by 1.5 percent from the previous close on the NSE. Tata Motors shares were the best performer on the Nifty in 2023, gaining over 100 percent.
The Indian 4-wheeler major is expected to report robust Q4 results largely on the back of strong volume growth, an improvement in British unit JLR's performance, and commodity price tailwinds.
India's largest EV carmaker's consolidated net profit is expected to climb to Rs 7,084 crore in the fiscal fourth quarter, an increase of 33 percent from the same quarter of the previous fiscal, a poll of six broking firms showed. Revenue from operations for the automobile giant is likely to soar 15 percent on-year to Rs 1.22 lakh crore, per estimates.
The company is expected to report an EBITDA of Rs 17,527 crore for January-March, up over 36 percent on-year. Tata Motors reported an EBITDA of Rs 12,810 crore in the same quarter last year, buoyed by higher operating leverage.
In April, the company reported a year-on-year increase in total wholesales, rising by 11.5 percent to 77,521 units compared to 69,599 units in April 2023. Total domestic dispatches also saw a 12 percent rise to 76,399 units, up from 68,514 units in April 2023.
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